Heavens that bring blessings to our earthly pilgrimage. Today, guide our lawmakers with your glorious wisdom. In the greatness of your majesty, fulfill your purposes for their lives as you order their steps. Show them such unfailing love that they will walk before you in wholehearted devotion. Lord, place your Healing Hands upon our nation and world, delivering us from this Global Health crisis. We pray in your powerful name. Amen. The president pro tempore please join me in reciting the pledge of allegiance i pledge allegiance to the flag of the United States of america, and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Mr. Grassley madam president. The presiding officer the senator from iowa. Mr. Grassley permission to speak in morning business for 90 seconds. The presiding officer without objection. Mr. Grassley my iowa offices are located in cedar rapids, council bluffs, davenport, doims, sioux city and waterloo. My state
Relief measures congressre has passed there was 150 billion sent to the state and local governments, much of which have yet to be spent and frankly we dont know what the actual need is until we have a better sense of what the revenue loss is to the state and local governments. They are sounding the alarm and justifiably worried about what happens if the downturn in the economy continues and what that dght mean for their revenues. So, they are looking to washington, d. C. For assistance, and i think that as i said earlier, there was 150 billion that went out to state and local governments and thereve been concerns about how they could be used. They were stipulated that they had to be used for these expenses and many state and local leaders were concerned that that didnt give them the flexibility thatee they needed o meet other types of needs. The Treasury Department has come out with an interpretation that would t allow the 150 billion already appropriated to be used to pay firefighters
Colleagues have come to the floor and spoken here or elsewhere about the importance of providing assistance to state and local governments, and that if that doesnt happen that theyre there are going to be police officers, First Responders and people who have essential jobs that we rely on every single day and for whom were so grateful, that wouldnt be able to get paid. I would just point out that already as part of the Coronavirus Relief measures that congress has passed, there was 150 billion sent to state and local governments, much of which has yet to be spent. And, frankly, much of which we dont know what the actual need is out there until we have a better sense for what the revenue loss is to a lot of our state and local governments. Clearly they are sounding the alarm and are justifiably worried about what happens if the downturn in the economy continues and what that might mean to their revenues. And so they are looking to washington, d. C. For assistance, and i think that as i
Are stuck at home. One on one with Lindsay Vaughn you are watching Worldwide Exchange here on cnbc welcome from wherever in the world you may be watching. Im Brian Sullivan it is early but looking like yesterday could be kind of a one and done for the equity markets. Stock futures are flat to slightly down. That benchmark index still down 3 for the week. Nasdaq down under 2 big tech has been outperforming as of late oil trying to stabilize after an incredibly volatile, record breaking week. We are at 15 and change on u. S. Contract slightly under 22 on international internationalal trade. Yesterday, the president warning any u. S. Ships to destroy iranian vessels that come close to them at sea and a regular lator that will shut down an oil well is not at risk of losing that well long term that may lead to more shutdown and decrease of production we want to keep a close eye on the uso etf. It has been halted a numerous time over the last couple of days normally, this would just buy the
Notably russia, and surely it puts a crimp on the future of electric cars. Look at it this way. Why buy electric when a gallon of gas on average now costs 1. 81 and likely to fall much lower. In wisconsin, the average is all the way down to 1. 22. There are some places where its below 1. We will bring them to you. Its a big negative for the stock market. The dow industrials are going to open down 500 points. Thats roughly 2 . The s p down 1 . The nasdaq down 1. 93 . The oil crash really hurts stocks as well. Every energy stock is down. The airlines and the Car Companies, they cant cash in on cheap jet fuel and gas because people arent flying and theyre not driving. Where is the additional help for Small Business now that the first rescue package has run out of money . As of right now, it has not come through. Treasury secretary mnuchin negotiating with democrats over the weekend. Its supposed to be a better than 300 billion plan but its not here yet. Perhaps thats another reason for th